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AST SpaceMobile, Inc. (NASDAQ: ASTS) has closed of its offering of 13,636,364 shares of Class A Common Stock raising gross proceeds of $75.0 million. B. Riley Securities ("B. Riley") was the sole book-running manager of the offering. The Company has also granted B. Riley a 30-day option to purchase an additional 2,045,454 shares to cover over-allotments, if any, which would raise an additional $ AST SpaceMobile, Inc. (NASDAQ: ASTS) has closed of its offering of 13,636,364 shares of Class A Common Stock raising gross proceeds of $75.0 million. B. Riley Securities ("B. Riley") was the sole book-running manager of the offering. The Company has also granted B. Riley a 30-day option to purchase an additional 2,045,454 shares to cover over-allotments, if any, which would raise an additional $11.25 million in gross proceeds for AST SpaceMobile if exercised.
"We are pleased to announce this successful capital raise as we continue executing on our mission of connecting the unconnected," said Sean Wallace, Chief Financial Officer of AST SpaceMobile. "We were excited to see the demand for this offering, which allowed us to upsize the offering from $65 million. We welcome all of our new stockholders."
The proceeds will be used for general corporate purposes, and will contribute to funding production and launch of the first phase of the Company's commercial satellites.
The Company has filed a shelf registration statement (including a prospectus) on Form S-3 with the U.S. Securities and Exchange Commission (the "SEC") for the offering to which this communication relates. The registration statement was declared effective on November 10, 2022. This offering was made only by means of a prospectus and prospectus supplement that form a part of the registration statement.
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AST SpaceMobile announces pricing of upsized $75M public offering of Class A common stock
Midland TX (SPX) Dec 01, 2022
AST SpaceMobile, Inc. (NASDAQ: ASTS) has announced the pricing of its previously announced public offering of its Class A common stock, par value $0.0001 per share (the "Class A Common Stock"). The Company has agreed to sell 13,636,364 shares of Class A Common Stock at a price to the public of $5.50 per share. The Company has granted the underwriter a 30-day option to purchase up to an additional 2,045,454 shares of Class A Common Stock at the public offering price, less the underwriting discounts and c ... read more